The £1,000 emergency fund challenge.

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    First Anniversary Name Dropper First Post I've been Money Tipped!
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    patman I am so happy that you have your £1000 EF - Well done!

    I joined this way back in the beginning & so far I have ZERO, I have moved house once, will be moving again soon & had lots of other non MSE things going on. But I am still aiming to have my EF in place one of these days.

    I should really be able to make a start on it in 2016.

    D xxx
  • Swash
    Swash Posts: 209 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
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    £796.32 in EF. Nearly there :)
    "Nothing is permanent in this wicked world, not even our troubles".
  • Justforme
    Justforme Posts: 137 Forumite
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    Evening all, can I join in with your challenge please, I know it's an odd time to start some challenges but I'm hoping if I get saving now I can stop myself going crazy Christmas time, and maybe start the new year in the black x
    NST October #24.
    NSD 16/20
    £125/£150 Family Budget..
  • patman99
    patman99 Posts: 8,532 Forumite
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    edited 13 October 2015 at 10:24PM
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    Welcome member 139.

    Good(ish) news on the job front. Have been given a 3 month extension so will be employed over Christmas and into January 2016.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • Dobbibill
    Dobbibill Posts: 4,135 Ambassador
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    That's fantastic news Patman :T :T :T
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  • Justforme
    Justforme Posts: 137 Forumite
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    Many thanks for my number Patman x
    NST October #24.
    NSD 16/20
    £125/£150 Family Budget..
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Justforme wrote: »
    Evening all, can I join in with your challenge please, I know it's an odd time to start some challenges but I'm hoping if I get saving now I can stop myself going crazy Christmas time, and maybe start the new year in the black x

    Welcome, Justforme:beer:

    This challenge isn't just a yearly one, it's ongoing:). During the past year a lot of us have had to dip into our EF savings big-time to cover emergencies so our balances rarely keep going up all the time:(. Just save what you can when you can as it's more than you had before the challenge anyway:T
  • Simply_Saving
    Simply_Saving Posts: 76 Forumite
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    Hi All.


    #44 checking in here after a very long time. I keep meaning to come on to update but I keep forgetting. No excuse really. Even though I haven't been on here for a while (something that will change) I haven't forgotten about this challenge and after a trip to the bank earlier today, I have exceeded the £1,000 target!! My savings account actually now has £1105.78. I'm so excited as it's the first time I've managed to get any decent savings together. It's been achieved by cutting the budget to the bare bones including the food budget and rounding down money in my current account and sending the odd pence to the savings as and when could. It's not been easy particularly with the school summer holidays having just ended!


    I'm going to keep on going with the savings and ideally I want to get it up to £1,300 by the end of the year and £2,000 by the end of 2016. I'm not setting a massive goal between now and the end of the year (just under £200 more) but realistically that's probably all i'll manage bearing in mind we have Christmas coming up and my daughter will also be turning 10 in December.


    N x
  • patman99
    patman99 Posts: 8,532 Forumite
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    This challenge is working well. We are all helping each other to get to the initial target.

    Well done to Simply for not only reaching, but exceeding the £1,000.

    As CBC has already said, this is not a yearly challenge and has no end date. As long as I am around, this thread will exist and (hopefully) new members will join us.
    Never Knowingly Understood.

    Member #1 of £1,000 challenge - £13.74/ £1000 (that's 1.374%)

    3-6 month EF £0/£3600 (that's 0 days worth)

  • Simply_Saving
    Simply_Saving Posts: 76 Forumite
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    Thank you! The relief is tremendous! I've never EVER had savings before which at 35 is ridiculous. It's always been a major worry of mine too because as a single parent I'm very aware that the responsibility is entirely on me if things go wrong. I've always managed to scrape the money together but it's usually meant having to pay a bill late etc. I've decided that I'm going to direct the £70 I get in Child Support to my savings and I'm also going to keep skimming the odd pence from my current account.

    Now to tackle the small credit card balance that's been hanging around for ever. It's less than £500 but I really need to call to get the exact figure and set up a regular repayment plan.

    Thanks for getting this started.

    N x
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